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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Thursday, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
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- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
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